AVB 0.00% 16.5¢ avanco resources limited

lara and avb do deal!, page-4

  1. 13,667 Posts.
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    Looks promising for AVB.

    Was previously being explored by Teck Cominco but they pulled out during the GFC. There was a strong price dip in Nickel at the time..along with other base metals so it probably made sense to them to reduce exposure.

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2008) - Teck Cominco Brasil S.A. ("Teck") has informed Lara Exploration Ltd. ("Lara" or the "Company") (TSX VENTURE:LRA) that in accordance with the Option and Joint Venture Agreement it will not be proceeding with the earn-in on Lara's Araguaia Nickel Property in Brazil. Teck has forfeited all rights, title and interest in and to the Property in favour of Lara.

    During the period of the Teck option on Araguaia, an additional 47 diamond drill holes primarily on the Vila Oito target, and 96 auger holes primarily on regional targets have been completed. This work, along with mapping and surface sampling, has defined seven priority targets with potential to host significant nickel mineralization that Lara intends to retain. In the light of the current market conditions, the Company is reducing its mineral rights to just those covering these targets.


 
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Currently unlisted public company.

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